How much of a rise has virtual selling made in the recent years?

A 2020 study by the RAIN Group found that pre-pandemic, only 27% of respondents reported conducting more than half of their sales activities virtually. In May 2020, 71% said they were conducting more than half their sales virtually. That’s an increase of 163%.

As more companies and sales teams are transitioning to a remote setting during the pandemic, what other key insights can we gain from this study?

Due to COVID-19, the concept of virtual selling has become increasingly important. In a study by RAIN Group titled “The Pandemic’s Impact on Reason for Missing Sales Goals”, the authors surveyed sales reps, managers and business-to-business executives in May 2020 about how their work had been impacted by COVID-19.

The research showed that nearly all respondents (97%) indicated that their sales process had been affected by the pandemic, with the biggest challenge being “having to manage remote selling of highly complex products.” To succeed in this new environment, sales reps must focus on developing a strong virtual presence while building relationships with customers over distance. This can include using digital tools to reach out as well as actively engaging in social media platforms. The results of this study are valuable in understanding how businesses are adapting to a socially distant world, offering insights into changing sales strategies and practices. This article will discuss the key takeaways of RAIN Group’s survey and the implications it has for the current climate.

RAIN Group’s survey found that businesses have shifted their focus to virtual selling, increasing digital investments and adding automation to their sales processes. These changes were experienced by all sizes of companies, reinforcing the need across the industry to transition from traditional in-person interactions to more remote interactions. It also highlighted that nearly half of decision makers prefer virtual sales as a long-term solution.

More 2020 Stats

39% of companies don’t regularly ask customers for feedback about their interactions

40% of all customer interactions will be automated through AI and machine learning by 2023

According to HubSpot, the length of a sales cycle decreased by an average of 15% when virtual sales tools were used.

77% of B2B decision-makers prefer video meetings over phone calls with vendors

77% of Sales Professionals Now Conducting More Video Meetings

B2B Companies Achieve 63% Lower Customer Attrition and 55% Higher Share of Wallet in B2B Engagement

Why 40% of Sales Professionals Didn’t Achieve Their Revenue Goals in 2020

Omni-Channel Engagement Preferred by Almost 78% of Customers

61% of customers believe that surprise gifts and offers are the best way to engage customers

76% of salespeople consider sales technology critical to closing deals

More Sales Trends Stats

Sales enablement initiatives increased sales for 76% of companies by 6%-20%

A study by GetAccept revealed that sales reps experienced a 40% improvement in win rates when using online proposal software.

44% of salespeople give up after one follow-up call.

56% of sales professionals get leads from existing customer referrals.

83% of Sales Professionals Report Working on Weekends

40% say getting response from prospects harder now than 3 years ago.

64% of sales professionals who cross-sell say email follow-up is the most effective cross-selling strategy.

2% is the average success rate for cold calling

77% of respondents said that their company provides at least a quarter of their leads

Even with a return to in-person lifestyles, only 20% of B2B buyers say they hope to return to in-person sales.

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